Posted on 10/27/2019 4:16:29 PM PDT by Diana in Wisconsin
Jenny Castillo makes over six figures, owns multiple homes in DC and vacationed in three countries already this year. But at the end of each month, she’s still counting pennies.
“Adulting is very expensive,” Castillo, 32, tells The Post. “Yeah, on paper I make good money, but when you factor in debt, cost of living and lifestyle, it’s not.”
Even though Castillo makes more than 75% of the US population, according to 2014 US Census Bureau data, she insists there’s not much left after shelling out for rent, bills, savings and her pleasure fund.
“I have a separate account just for fun things,” Castillo says, listing travel, eating out and stays at luxury hotels as her musts. “Self-care is something I prioritize in my life, and I don’t feel guilty about it.”
Castillo is a HENRY — short for High Earners Not Rich Yet. Though the term was first coined in a 2003 Fortune magazine article, it has since come to describe a burgeoning class of mostly millennials who make between $100,000 and roughly $250,000 a year, experts say. This cohort is also all about maintaining a particular lifestyle — whether that’s traveling to the latest jet-set destination, eating at a trendy restaurant or splurging on a spa treatment and green juice. But their taste for luxury — and the pressure to keep up with their well-heeled buds on social media — has some HENRYs feeling more strapped than stacked.
“I feel like I’m living paycheck to paycheck, and have been for forever,” says a 30-year-old graphic designer, who wished to stay anonymous to protect her job.
(Excerpt) Read more at nypost.com ...
“Damn. What do they do to make so much money?”
$100k in DC will get you a slum apartment in the ghetto.
My niece made good money out of college and lived in DC but had 5 roommates to get by and she was not a big spender. She lived that way for almost 5 years until she married rich guy
I never came close to 100k in a year.
The poor dear owner of multiple homes missed out on the joys of 10,12,14% mortgage rates.
She's an attorney (it's in the article).
A quick look at her Instagram (also linked in the article) shows she has a penchant for expensive brand-name fashion and accessories, meaning, she spends more than she makes. As others have noted, a pretty simple equation.
We need to eliminate all snowflakes who use the word “adulting.”
If the “homes” are investment properties, they might be costing her more than she gets in rent. That’s why it’s called risk.
Jenny Castillo makes over six figures, owns multiple homes in DC and vacationed in three countries already this year... Even though Castillo makes more than 75% of the US population, according to 2014 US Census Bureau data, she insists there’s not much left after shelling out for rent, bills, savings and her pleasure fund. “I have a separate account just for fun things,” Castillo says, listing travel, eating out and stays at luxury hotels as her musts. “Self-care is something I prioritize in my life, and I don’t feel guilty about it.”
See, it's easy to understand why the simple ***** will be voting for the higher taxes and gov't dependence in November 2020. Wait, what?
These 2 things don’t equate:
“vacationed in three countries already this year.”
and
“...I don’t take vacations, ...”
Doesn’t know how well off she is and will be devastated when it all comes crashing down during a down-sizing, restructuring, or company going belly up.
They blow through their money, curse “the system”, then they vote for socialist politicians to give them “free” stuff by taxing people who were more responsible.
Don’t get used to strapped. Strapped will be your good old days. Deprivation, sorrow, loss, disease, are coming your way and coming your way hard.
But they have a $500 a month school loan.
That’s a car payment folks.
I have been out of the work force for five years. Final salary was $60K after 30 years. Same position, which now requires a masters degree starts $100K with no experience. I guess education inflation requires salary inflation.
100K in this area (DC) is doable BUT you will be living on the ourskirts of the beltway and away from the hotspots like Arlington, Bethesda and NW DC. You will have a smaller place, and paying a ton for utilities, and transportation and dealing with the worst traffic anywhere I’ve ever seen. It can take upwards of 90 minutes to go 26 miles.
It’s not worth it IMO.
It’s very easy to spread youself thin but more so if you have a home and an investment property. There is some good news; the values are projected to go up at least 30% once Amazon and their partners start to settle in. If you tough it out for a few years, you can make some money.
Not only that but they all have 1,200.00 dollar phones and astronomical bills to go along with them!!! Then of course they ALL have the latest and greatest tech gadgets too!!!
Millennials?
I remember reading “Getting by on $100, 000.00 Dollars a Year” in the 1980s.
Probably by Andrew Tobias.
Been a while.
She OWNS 3 homes in DC GEEZE she can’t be in that bad of shape OH BOO HOO!!!
I once got a $62,000 bonus from a high pressure executive job. This was on top of a six figure income.
I paid off all my debts, except the mortgage (car loans, credit cards, etc)
I quit three weeks later to start my own business. Did that for fourteen years. I came close to $80k one year, but he first two years we lived off my wife. We continued living off my wife and saved mine every year.
I despise debt. And without it you can live as if you are paid about 20% more than you are—because you are not paying interest.
Getting by on $100k in NYC if I remember the title correctly.
A school janitor in Palo Alto makes over $150k/yr with full benefits.
And still has to live in an apartment across the bay in Milpitas. At $2,800 per month.
My Dad,a child of the Depression (and WWII),would be appalled to see this. He taught me,both by word and by deed,to live below my means. An example of him "leading by example" is that,despite having worked damn hard and having done quite well,he wore...until the day he died...a $15 Timex watch with a $5 fake leather strap despite being able to afford much,much more. Another example: he always drove Oldsmobiles despite being able to afford much,much better.
This girl is gonna come to a bad end...I just feel it in my gut.
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